Issue Date: Vol. 51, No. 7, July 2011, Posted On: 6/29/2011
WV Makes $70M On VLT Licenses
West Virginia video lottery, Limited Video Lottery law, video lottery licenses, VLT, video poker, amusement business, Derrick Video and Music, Jerry Derrick
CHARLESTON, WV -- Operators who won bids for 10-year licenses to operate video lottery terminals in retail locations have paid the state nearly $70 million, according to the West Virginia Lottery.
According to the Charleston Gazette, Derrick Video and Music bid $4.2 million for 350 licenses in the latest round of bidding.
The company, owned by Jerry Derrick, is one of two video lottery machine distributors holding the maximum 675 licenses allowed under the state's Limited Video Lottery law.
Derrick is a past president of the Amusement and Music Operators Association.
According to local press outlets, the average cost of a VLT license paid by all operators statewide is now $9,157 per location.